Setting prices for your locksmith services can be complicated. Pricing can be a sensitive topic and a balancing act. Charge too little, and your bottom line will take a hit. Charge too much, and customers will shop around and go elsewhere. You have to factor in travel time, the size and cost of living in your market and your competitors’ prices, all while facing substantial increases in fuel and supplies. Locksmith Ledger’s 2022 National Average Price Survey should provide some guidance.
Check each listing of our results and determine the percentage of difference between our average and your specific charge. If the percentage of difference is small for most items, then your charges are in line with the national average. If one of your charges is extremely low compared with the survey results, then study the amount of time it takes to do that particular job. You might be losing money without knowing it. Conversely, if one of your charges is extremely high compared with the national average, you could be losing jobs to the competition because of your pricing structure.
We appreciate all the responses and comments from our readers who took the time to complete our survey. Please note that this survey isn’t scientific but merely intended to provide guidance. Every market is different, and prices depend on the size of the market, the number of competing locksmith businesses and the cost of living in the region. Prices in San Francisco and New York City, for example, are among the highest in the country, much higher than in smaller towns away from large metropolitan areas.
Lockout Calls
The average residential service call in 2022 is $85 during regular business hours and $128 after hours. This represents a significant increase over rates from our 2017 National Average Price survey: $74 during business hours and $92 after hours. Similarly, the average auto lockout call in 2022 is $82 during regular hours and $117 after hours.
Unsurprisingly, the larger the city, the higher the rate. Lockout calls in large metro areas average $111, compared with $97 for midsize cities, $74 for small cities and $70 for rural areas. (See Chart 1)
Fuel surcharges or mileage rates are charged by less than half of the survey participants, and everyone figures them differently. Some locksmiths charge a set amount per mile, while others charge fees outside a 5- or 10-mile radius of their location. One locksmith charges $2.50 per mile round trip.
Hourly Rates
The average hourly rate in 2022 is $92 during regular business hours and $135 after hours. Broken down by market size, averages are $116 for large metropolitan areas, $104 in midsize cities, $86 in small cities and $73 in rural areas. Five years ago, the average hourly rate was $64. (See Chart 1)
Survey responses were anonymous, but the following comment was from the locksmith whose prices — in nearly every category — were the highest in our survey.
“We are in the San Francisco Bay Area, where it is VERY expensive to live/operate. Some people might think our prices are high, but gas is over $6 per gallon, and my lunch today was $18 (just for me). Our residential service call is $115, and our commercial service call is $140, because it takes longer to find the contact and get the invoice signed when completed. We are crazy busy!”
Locksmith Quartz Miller, owner of Lockstar Mobile Locksmithing, which serves the Denver metropolitan area, says he is re-evaluating his pricing in light of the increasing cost of products and the rising price of fuel, which particularly affects mobile locksmiths. “It’s encouraging me to raise my service call,” he says. “I drive a large truck, and I’m spending close to $120 per fill-up. That’s at least once a week, sometimes more.”
When setting prices, Miller says he takes into account the prices charged by his competitors. “I tried to keep an ear out for what my colleagues are charging, which isn’t always easy,” he says. “You have to kind of be careful when you’re getting information on pricing.”
Miller also recommends considering the hourly rates of other skilled tradesmen in the area, such as electricians and plumbers.
Key Duplication
No locksmith will get rich just by duplicating keys, but those jobs add up, particularly when a customer wants a large quantity of keys. For retail shops, key duplication is a great way to get customers into the shop, where they can see displays of the latest locks and safes and consider a security upgrade.
The average cost of a standard single-sided key (think: Schlage C keyway house key) is $4, while a double-sided key copy averages $6.29. Five years ago, the averages were $2.71 and $4.23, so key prices have increased by nearly 50 percent since 2017.
Then there are the specialty keys — those patented high-security key blanks and the specialized blanks that big-box stores are unlikely to stock. The average high-security key duplication costs $20.25 in 2022, and cutting a key from a broken sample averages $13.82.
Automotive Charges
Automotive locksmithing can be lucrative, as long as pricing is set high enough to cover the high cost of programming equipment for late-model vehicles.
Our survey found the average price of fitting automotive keys ranges from $90 for a standard key up to $169 for a transponder key. The average fee for transponder programming is $83, far less than what most automobile dealerships would charge.
Of course, the priciest service is that all-keys-lost scenario, which averages $226 in 2022 but could run as high as $330.
Electronics
Although we list average prices for most common electronics and door hardware installations in 2022 (See Chart 2), numerous readers point out that there’s no one-size-fits-all price for many projects. Some jobs have a set price; some are charged hourly; and, particularly for bigger projects, some quotes are made only after a site survey and consultation with the customer. A few locksmiths comment:
“Some pricing cannot be flat rate. Automotive, the cost of key or fob vary greatly. Access control, hourly is usually too low, and a bid per job depends on what is in place.”
“The category Integrated Solutions (Video & Access Control) is very vague. I charge an hourly rate by the half-day for that type of work. For example: Half-day (four hours) at my rate of $225 is $900. A full day (eight hours) would be $1,800. So, in other words, I charge by four-hour increments. If I am there for one hour, I still charge for four hours.”
Our survey found that the most expensive electronics jobs are an upgrade to a touchless actuator, averaging $298, and the electrification of a lock or exit device, averaging $246.
Other average electronics rates: $160 to install an electric strike, $117 for an exit alarm installation and $213 for a maglock installation. Although the average for a hard-wired electronic lock is $235 and the wireless version averages $177, many locksmiths actually charge the same price for either option. In some of these cases, an electrical contractor might have run the wires.
Lock/Door Hardware Installations
The highest ticket item in this broad category in 2022 is the installation of an automatic door opener, which averages $422. Other results include continuous-hinge installation at $265 and vertical-rod exit device installation at $260, likely because these jobs require more than one technician.
Lock installations range from $69 for a cylindrical lever lock up to $132 for a mortise deadbolt. A locksmith opines:
“Much of our work is based on labor time, but not always consistent for flat-rate pricing. For example, continuous-hinge install is estimated for 2 to 2-1/2 hours. But if there is a frame problem or style dimension issue, then more time is required to complete the project.”
Safe Servicing
When your customer’s safe won’t open, averages for opening by drilling are $336 and opening by manipulation are $307 in 2022. A combination change averages a little less than $100.
Although few locksmiths offer safe-moving and installation services, those fees averaged $295 and sometimes were based on mileage.
